General Engineering, MSc Finance, CFA Level 2 Candidate | Nikita Jain | Unbox College Podcasts

yeah where do you have to smile okay 
when she edited this fat image once again hi and welcome to the career coach podcasts a 
show where we talk to some super cool people who   have had really fascinating academic and career 
trajectories today we're talking to nikita jain   nikita has always been academically oriented she 
got a great score after 10th went on to science in   mumbai after she made the decision of studying 
engineering in university of illinois urbana   champagne immediately after she was placed in 
goldman sachs where she worked for a year as an   analyst she then realized that she had a calling 
towards finance and after a few experiments   with trading she decided to give her cfa level 
one went on to do a masters in finance from cass   business school in london and she came when she 
came back she worked with iifl and indian finance   company for a year right now she is prepping 
for her level 2 and managing her own portfolio   this is a student administrator program our aim 
is to offer information from other students who   have recently graduated none of this information 
is to be taken as advice nobody in this video or   on the team is a guidance or career counselor 
nor are we experts in the fields which we have   chosen we do not intend to look down on any 
career or academic path and hope these stories   will be taken in the spirit in which they 
were said our experiences are personal and   cannot be universally applied we hope this 
video is helpful to whoever watches it and   it equips you with some relevant insights 
enjoy so how was your finance experience um so when you mean when i got into my master's 
program how was that so um i did it was called   actually msc investment management and um it was 
a really good program because it was it kind of   covers all aspects of a portfolio management and 
um different avenues that there are and how you   can invest and how you can judge portfolio 
managers and stuff so it was a really good   master's program and gave me uh overall um all 
kind of master's programs from masters in finance   to investment management they're pretty much the 
same so um more or less the same i mean you need   to look at the courses but they they are they 
usually just concentrate in fina on finance so   yes it was a good experience london as well was a 
good experience a really brilliant city to live in   so um yeah what do you do now exactly so right now 
i used to work with ifl wealth as a portfolio and   portfolio analyst um for their wealth business 
and um i recently i worked for a year and a half   and i recently uh quit that and i've been um 
kind of managing my own port for you so and   learning trading i kind of want to get into 
algorithmic training so i've been learning python   and i've been yeah and i've been kind of reading 
quite a bit just to understand the whole macro   level uh what's going on and and we've been trying 
to get like and and studying for cfa level two   so that kind of gives me a fundamental aspect 
so kind of a mixture of things but yeah i'm   trying out everything to eventually maybe get 
to algo3 i'll go trading wow that's really cool   so uh when you're saying i'll go trading and 
learning python and all does your engineering   background help you with that or how does that 
work yeah so the reason i always actually didn't   want to get into finance even before i went um 
even when i was doing engineering which is why   i took up the job with goldman sachs um i still 
did engineering and i still don't regret it and   i think it helps me because it really makes your 
mind analytical it really um gives you a because   everything is so quantitative your mind becomes 
quantitative and it actually does like give you a   you become more analytical like your mind becomes 
more analytical and that and that skill is needed   in finance because like a lot of it is analytics 
at the end of the day so yes my engineering did   help yeah so i decided that i want to pursue a 
master's in finance so i started looking at i   i might it eventually came down to two colleges 
university of california california san diego or   uh gas business school london so i i felt like i 
should i probably go to a business school because   then i can even build my network around the 
um because it's the financial center of the uk   and uh also kind of well connected to the eu so 
i felt like to get a holistic finance exposure i   should probably go to london and even cast mission 
school is is a good school so uh how did you come   to a conclusion on choosing you know finance 
after engineering and was it a tough transition   so i was always uh i kind of knew i always 
want to go into finance so it wasn't um so   an engineering class finance is pretty common a 
lot of people do it usually people do financial   engineering after that to get into like probably 
something i should have done if i knew all along   that i want to get into algo trading yeah and get 
a proper trading job but i didn't know so i but   either way i joined goldman sachs which is uh the 
biggest like financial company i guess so i did   i started with foreign exchange settlements and 
operations and i thought i should i'll probably   eventually internally move to finance or to the 
securities division at goldman but then i just   thought but then i kind of moved back to india and 
i was like maybe i should work over here and um   then i realized that to get a good finance and 
to to if i don't want to move within companies   and if i want to get a good finance i want to 
get into finance i should probably start with   the cfa because that will at least give me give 
me a sense of whether i really want to get into   finance or not so when i started studying 
for cfa level one i realized that i do have a   i do have an interest in this um in in finance so 
i went ahead and i studied for cfa level one and   um and then i was sure that i want to get into it 
and then i got myself a master's also after okay   and what uh really happens in cfa so you're you're 
giving the cfa level to right now right and what   really happens in cfa so cfa has 10 subjects so 
i'll just name out those subjects to you so you   kind of understand what exactly so it is kind of 
self-explanatory if i name out your subject so   exactly is listening so it firstly the first is 
ethics like in financial world how you need ethics   uh from insider trading and from different 
kind of points of view and now there is   sebby there is the sec and there are all strict 
regulators so you need to always be in compliance   so then that there is ethics which covers 
that so that's one kind of a more general one   now from the studying point of view um there is 
a whole equity it's a subject talks about how to   derive the equity value of a company is is the 
most easy way to say it then there is um then then   we have fixed income which talks about bonds and 
debt and how how the yield curve yield curve works   how the mod duration works then we have the um 
economics it's kind of the fiscal policy monetary   policy talks in detail about that about currency 
exchanges then uh we have derivatives um which is   options and futures and um you know how the the 
math behind that how that works then we have   uh quantitative analytics which is like uh your 
t stats your z stats like you know when you're   doing uh like these basic statistical analysis 
so that kind of covers that then um then there is   uh corporate finance and which is um how 
much a company should equity how much debt   how much should debt should it issue how should 
it refinance it talks about that then we have um   fra that's financial um accounting um so 
that's so that doesn't teach you how to   make a balance sheet like how what a charter 
accountant knows fra teaches you how to read   a balance sheet and how to analyze the balance 
sheet how to try to potentially spot um maybe you   know loopholes like could this company be kind of 
portraying something else and you know so that's   fra and uh let me think portfolio management um 
so that's kind of alpha how do you man how uh   portfolio management is more like firstly how do 
you diversify your portfolio and also how do you   analyze other portfolio managers if you were to 
give your money to a portfolio manager to analyze   to manage your money how to analyze him whether 
he's beating the benchmark and more detail about   that and last is alternative investments so 
that's like private equity and um kind of   throw some light on real estate um just that's 
like basic that's just within alternative   investments so like so it's a kind of a wasp 
it's very very vast it covers finance completely   and you know it's a lot of portion but it 
really does give you the idea if you know if   if this interests you and then within this what 
interests you so all three levels have the same   subjects they just go deeper and deeper and deeper 
wow okay so i just have uh one more question   one two more questions about cfa is cfa like ca or 
is it completely different completely different ca   start is where they where they where you literally 
build your accounts from scratch right where you   build your balance sheet your income statements 
here in cfa you don't learn how to build it   you just know how to read it so is cfa like a 
degree or how does that how does that work it's   it it literally says chat uh chartered financial 
analyst analyst so it's a charter now i mean it's   it's i i wouldn't call it a degree it's not 
a degree for sure it's but it's an institute   that issues you the certificate so it's a whole 
big community and then once you and now because   it's so well known that when you say cfa people 
know that how how much you have gone into depth   depth of finance because you've done the cfa it's 
become very well known widely known but it's not a   degree wow what qualities features characteristics 
you have to have to choose a degree like finance   what do you have first you really need to 
like numbers okay because finance is pretty   much about numbers um so that is one whether you 
go into finance is very vast okay so different   uh different like there's investment 
banking there's capital markets then there's   literally trading there's portfolio management 
which is kind of in capital markets so there is so   much there is so much that they all that but the 
only thing common between all of them is that you   really need to like numbers that's the main thing 
between if you then after that as you go along you   know when i'm studying these subjects you know 
i realize that i'm i'm not too good at reading   balance sheets i mean i i'm getting it but i don't 
enjoy that much i don't enjoy it that much so then   i know that i shouldn't really go into equity 
research because equity research is more about   reading balance sheets and um and then trying 
to analyze the cash flows of the companies   and estimating them so so so then like i could 
eliminate that but at the same time i mean i   do like i do like the whole quantitative 
analytics maybe that's because it comes   to me naturally because i've done engineering 
but i feel like i want to play with data like   you know price and volume data and i want to try 
to analyze it through that that's my that's my   uh skill so there is not a specific skill set 
that you i would say that if this is what you   require for finance but you do really need to 
like numbers and you really need to be aware of   your of the whole global macro level to actually 
excel in finance because now everything is so   globally connected all come like all something 
in the us uh a us and tr uh china trade war   even our markets get affected well you really need 
to be wanting to know what's going on in the world   and you need to like numbers now i really want to 
come to the coolest part you know what i really   feel is the goldman sachs uh company where you 
work for a year and i think goldman sachs company   is like a dream company for many right can 
you tell us a little bit about your time there   yes so it was i would say the best i i was firstly 
thrilled to have got a job at goldman sachs   and i was really um and i was in operation so and 
there in the us their operations headquarters is   in salt lake city so but it was a big it was a 
big office around five to six thousand people   wow when when when i got there right out of 
college we had a whole class of people from   different colleges through the us but everyone 
was just on board it together so for me it was   just a continuation of college but now i'm 
working and i'm getting paid and uh the kind   of training they gave was unreal um they spent 
so much on training their on training their   employees they on training their new joinies 
that it's a great experience for yourself you   you really start growing goldman sachs really 
cares about their the growth of their employees   every time it's always encouraging you to be the 
better of yourself so when i went to so yeah and i   and i the work hours were crazy i will it was ama 
but the good part was you really were surrounded   with everybody so hard working that you were 
only motivated to work hard you even though   i i never complained that the work is so much 
i mean sometimes sure i was tired but it was   i was never frustrated or i was never like 
why am i doing this it was always so dynamic   every day was a new day and every time we were 
learning new things and um also because it's   such a global firm you're talking to people from 
tokyo you're talking to people from sao paulo   and even that gave you a full global expo like i 
mean you were still talking to so many people so   all in all i had a great experience and yeah you 
would be lucky to get into goldman sachs for sure   you really need to work hard because they 
really value hard work so yes and was   managing financial jargon and these complex 
complex was difficult for you that time   so um so i got into operations okay so in goldman 
sachs when you do get into operations they kind   of hire people from all fields even if you're 
studying english if you're studying engineering   if you're studying actual finance if you're 
studying so there because that job needs to be   trained from scratch it doesn't really matter what 
you're um sure if you're a finance major then you   understand better but they train you from the very 
beginning so getting into it getting into i if i   had if i was given the choice when i graduated 
i would want to get into the finance division   or the securities division and goldman but for 
that you needed an actual finance degree okay   that's where they really wanted a finance major 
but with engineering um i i got into operations   and um so that's pretty much how i got in and um 
and how did i learn they train you they really   train you to teach you everything you need to know 
they teach you more than you need to know actually   and and they give you opportunities within 
the firm they really are they promote you you   everybody who i worked with um when i just 
joined and when i was in goldman all of them   are in different divisions my one of my closest 
friend and who still works at goldman has shifted   to finance division she's shifted from salt lake 
to new york now i knew people in india who kind   of shifted from the bangalore office to salt 
lake city office and then to new york office   so they they promote you know they promote 
mobility so that's the beauty of you know being in   a global firm uh how long was your course and what 
did a typical day in in that program look like   the course was one year it was a masters in 
fina masters investment management course   it was one year and a typical day looked like any 
other college day you know you have your classes   you have your breaks you have uh you go for 
some classes you don't go for some classes   you have exams you have extracurricular groups 
like i don't know like basically clubs and   for example a private equity club or i don't know a currency trading club so there 
were different so you whatever that's when   you realize where your interests lie you 
know whichever club you kind of join you   you you are how active you want to be with 
that club and um yeah and then you're just   on weekends you're chilling you're it depends 
on what your you know what your preferences   are you're sometimes partying you're 
sometimes traveling yeah sometimes it's   it's it's a good um there's so much to do that 
you know and you you're meeting different people   so yeah okay that i learned all i 
learned everything along the way and   um for all you know i'm still just on somewhere 
on on my way to get where i have to but for now so   so one thing led to another and now i'm just 
gonna give uh trading a try and if i do well   then i'll probably get and do it i'll get more 
clients i'll on board clients but for now i'll   start with my own portfolio and and just just 
try to join these trading communities try to   figure out what they do and how does it work 
exactly so cool that is really cool i must say   so with that only i would like to end this 
thank you so much for joining us your journey   has been extremely fascinating to me and i'm 
sure everybody who's watching this is going to   love it we're going to put we're going to put 
nikita's linkedin in our bio so you can connect   with her if you would like thank you guys so 
much we hope this youtube video was useful bye

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